There is no doubt that for the cryptoactives market in 2021 NFTs were the biggest sensation, piercing the cryptocurrency bubble and bringing the digital asset market to levels never seen before.
The NFTs have simply allowed markets like digital arts to consolidate and bring blockchain-based technologies to the forefront of debate. NFTs are used to record digital files and prove their originality, their inviolability, because if the file is changed, the NFT validation code will not match the file to which it is linked, something that only blockchain-based assets can do.
We can use NFTs for various uses, such as: signing documents and works of art or creating a certain amount of original pieces and collectibles for their originality, ensuring that a player’s tokens are original or even that the deed to your property is the deed original – thus proving that you are the current owner of the property.
The uses are countless and the advances for the bookkeeping and auditing sector are equally relevant.
More than $11 billion in transactions on market transactions show that in the first quarter of this year alone, NFTs were responsible for moving $508.9 million in the crypto market. In the second half of 2021, this number jumped to US$ 754.3 million, a growth of 48.2% in the first half. According to CryptoSlam data.
Compared to the third quarter of 2021, the movement of NFTs between April and June is practically negligible. In the latest data presented on the non-fungible tokens market, these digital assets moved US$ 10.7 billion between the months of August and September, and this number could be even higher by the end of the year.
The NFTs have seen a real explosion in the last year, with a growth of around 10,000% in daily sales. Although they’re not exactly new (the pioneers CryptoPunks and CryptoKitties were released as early as 2017). The NFT craze didn’t hit until 2021, but the technology behind NFTs is far from new.
The idea has been around since at least the appearance of Colored Coins, in 2012. Other pioneers include “Quantum”, from 2014 and the game “Etherea”, from 2015, both practically unknown until this year. It’s only been in the last twelve months that the industry has finally taken the spotlight, with projects proliferating more than ever and prices rising exponentially.
For the week ending Christmas, global searches for the term “NFT,” which refers to non-fungible tokens, have outpaced the term “crypto,” according to Google Trends.
Source: Google Trends
The sharp increase in search traffic over NFTs provides a clear indication that NFTs have entered the ‘popular’ taste, with transactions on OpenSea, the most popular decentralized platform for NFT auctions and launches, topping $10 billion.
Source: Messari Crypto
OpenSea is a great indicator of the growth of NFTs. In June, OpenSea brokered more than 211,000 NFT sales among 40,000 active investors and was the platform that raised the most business in the crypto-actives sector, leaving platforms like Rarible behind.
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